Evaluating our home
Worth:
Approximately $145,000.00 value (give or take) as of 06/05/16 (an agent indicated that we could get more, possibly, under certain circumstances). Value could change by next year.
Owed:
Approximately $114,000.00 mortgage (give or take) as of 06/05/16
Difference:
Approximately $31,000.00 in sale proceeds, before fees, agent, and other closing costs.
Question:
How much are closing costs for the seller? How much does the agent cost?
How convenient, a Texas Closing Cost Estimate for sellers. Based on the estimated value and mortgage, a 1% agent commission, the net pocket from the sale of the house would be about $26,526.
Of course, I have no idea if 1% is normal for an agent, or if it's more. And these figures are from an online tool, totally imaginary. I think this is a best case scenario.
One site (here) estimates a 6% commission for the sale of the house, resulting in a $8,700.00 cost, vs the $1,450 estimated below. $7,250.00 more.
In that scenario, the net take home from the sale is closer to $19,276.
Dang... Maybe I should get a Real Estate License. If I only sold homes worth $145,000; I'd only have to sell 6 homes a year to be comfortable. Over that is gravy. Hmm... Something to consider.
Darrell
